2018 IFRS XBRL taxonomy issued
Mar 16, 2018
On March 16, 2018, the IFRS Foundation issued its 2018 IFRS® Taxonomy. The IFRS Taxonomy is a translation of IFRS Standards into XBRL (eXtensible Business Reporting Language).
The IFRS Taxonomy 2018 is consistent with IFRS Standards as issued by the International Accounting Standards Board (the Board) at January 1, 2018 and incorporates amendments made to the IFRS Taxonomy 2017 such as:
- Applying IFRS 9 Financial Instruments with IFRS 4, Insurance Contracts (Amendments to IFRS 4), issued in September 2016,
- IFRS 17, Insurance Contracts, issued in May 2017, and
- Prepayment Features with Negative Compensation (Amendments to IFRS 9), issued in October 2017.
The IFRS Foundation has also published the IFRS Taxonomy Update — Annual Improvements and the IFRS Taxonomy Update — Prepayments Features with Negative Compensation (Amendments to IFRS 9). The IFRS Taxonomy 2018 incorporates the changes resulting from these two updates.
Review the press release and the IFRS Taxonomy 2018 page on the Board's website.
